The Financial Services Authority has launched a series of comparative mortgages tables to help consumers shop around for the best deal.
Under the chairmanship of Howard Davies, the authority has set up the tables, which contain details on more than 1,300 home loans ranging from standard variable rates to off-set mortgages.
The information on the loans includes the interest rate charged, whether there are early redemption penalties, details of valuation and set-up fees and whether there are incentives such as cash back offers.
It also gives initial and standard interest rates and annual percentage rates, which include the cost of the loan over the full term taking account of interest rates and charges, to give consumers an idea of both the short-term and long-term value of the products and make comparing them easier.
The tables include information on which mortgages are flexible, enabling consumers to pay off extra each month or take a payment holidays, and whether the mortgage can be linked to a current account or savings account to reduce the amount of interest paid on it.
The tables can be found at www.fsa.gov.uk/tables.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article